All Forum Posts by: Phil G.

A 100% commission agency to whom you pay a monthly fee, like the one I hang my license may let you do it.   The broker for my states doesn't have a problem with it, when I was looking into doing exactly what you are.  We have a broker in TN.  If you're interested, message me and I'll share the brokerage info.

This is the certification you'd be signing as an owner occupant...  Smells like fraud to me

I/we, ,
submit this offer to purchase the property located at
Property address:
,
as an owner-occupant purchaser. I/we certify that I/we have not purchased a HUD-owned property
within the past 24 months as an owner-occupant. This offer is being submitted with the representation
that I/we will occupy the property as my/our primary residence for at least 12 months.

@Anastasia G.

You can't use legal zoom. The operating agreement must provide certain language that a lawyer with experience in this specialty area needs to include. You can use a lawyer who is knowledgeable in the IRA LLC arrangement or you can use a facilitator who puts the whole thing together for you. I've used Safeguard. Brian Eastman is a member on here.

@John Alanis

USDA rural development offers two programs for the purchase of singe family homes in smaller communities.  The guaranteed loan program makes loans through banks and mortgage companies.  The direct program is for folks who might have qualifying for the guaranteed program and loans are made by dealing with USDA directly.

You might check out the non-profit NACA (naca.com). They offer no money-down/no closing cost loans on 1-4 family properties. It takes a while to get through their program (think months). There's some effort involved. You start by attending a home buyer workshop then some counseling. I've had a few buyers get financed with them. Check their website to see if they service your desired geography and more info on the program.

When I banked with Bank of America, they wouldn't allow the trust checking account to even have an ATM card.  I switched banks to a small, regional bank and they had no issues with issuing a debit card, though it took them a week for their legal department to review and give the OK. To me the debit card is a huge convenience.  Able to buy and pay for materials and services online.

@Alex Chin

I save 15-20% with some of them.  My regulars know it's mutually beneficial.  They'll have some projects to do while business is slow and since it costs me more in holding costs, they give me a deal.  Also, since I have a longer period of time to complete, I can be flexible in time, so they don't have to turn down another job that might come up.

I find my GCs, subs and suppliers are much hungrier during the cold months.  The resulting prices more than make up for the few extra months of tax, insurance and fuel, incurred in waiting for the spring thaw to list.

http://nbr.com/2015/09/21/home-sales-cool/

Many MLS operate their own public facing website. Found this one for NC -- though I'm not sure you were looking in your backyard or not.

http://www.carolinahome.com/findahome.aspx

Keyword searches on the MLS are usually for searching the public text remarks and not fields that are stored in a specific field (e.g. REO, sewer type, etc.)

Unless the seller is desperate or you can prove that you have the cash to close, a smart listing agent is going to kill your offer with the seller.  Long inspection times and weasel words in the contract aren't going to fly.